Driving through Wilmington and noting the increased density, along with the many other changes that have taken place over the years, I’m often struck by the quote from Mark Twain, advising to “buy land, they’re not making it anymore.”
The lack of space for new development and infill projects is certainly a problem that we are currently facing, and one that is (obviously) not going to go away. This is why adaptive reuse projects are so essential to the economic prosperity and viability of our region moving forward.
Taking the long history of Wilmington into account, it’s not all that unusual to see large commercial buildings go vacant and then remain available on the open market for months, sometimes years. Part of the explanation for this is that these properties were designed with a unique business in mind, that they would take extensive up-fitting to accommodate something new, and there is a relatively small pool of buyers searching for these types of properties.
This is where the expertise and creativity of our commercial REALTORS® really shines, because ‘the next big thing’ is only a step away from the current reality. All it takes is someone with the vision to dream big and see what’s possible, when others may only see dead ends. Just consider the following examples:
YMCA Eyes Growth With Plans For New, Expanded Facilities
Emma Dill
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Apr 23, 2024
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Burns, Redenbaugh Promoted At Coastal Horizons
Staff Reports
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Apr 23, 2024
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Cold Storage Developer Sets Near-port Facility Completion Date
Audrey Elsberry
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Apr 24, 2024
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Wilmington Financial Firm Transitions To Wells Fargo's Independent Brokerage Arm
Audrey Elsberry
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Apr 24, 2024
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Krug Joins Infinity Acupuncture
Staff Reports
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Apr 23, 2024
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Baristas are incorporating craft cocktail techniques into show-stopping coffee drinks, and bartenders are mixing espresso and coffee liqueur...
“Our little town, especially the mainland area, is growing by leaps and bounds. So having somewhere else besides the beach for kids to go an...
W.R. Rayson is a family-owned manufacturer and converter of disposable paper products used in the dental, medical laboratory and beauty indu...
The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.